Sydney, May 17, 2017 AEST (ABN Newswire) - Further to the announcement on 11 May 2017, the Board of TopBetta Holdings Limited (ASX:TBH) ("TopBetta" or "the Company") is pleased to announce that it has completed the issue and allotment of 9,375,000 fully paid ordinary shares (Placement) to raise $1.5 million at 16 cents per share from sophisticated and institutional investors.

The Company also confirms that it has issued 468,750 shares to Canaccord Genuity (Australia) Limited (Canaccord) in consideration for the services provided by Canaccord to TopBetta in connection with the Placement.

Both the shares issued under the Placement and those issued to Cannacord were issued without a disclosure document in accordance with section 708 of the Corporations Act 2001 (Cth) and were issued under the Company's 15% placement capacity under ASX Listing Rule 7.1.

The Company is extremely pleased that this successful Placement will assist TopBetta's Alderneybased subsidiary, The Global Tote Ltd, to accelerate the recently launched Global Tote product in Australia and internationally as well as provide working capital for the overall business.

The Company's announcement on 11 May 2017 also noted the Company's intention to offer a share purchase plan to all existing shareholders at the record date. In accordance with the ASX Listing Rules, the record date for the SPP was 10 May 2017. Details of the SPP will be released to the market in the coming days.

The Board looks forward to updating the market on further progress in the coming weeks.


About Topbetta Holdings Ltd

TopBetta Holdings Limited ASX TBHTopBetta Holdings Limited (ASX:TBH) is licensed to conduct race wagering and sports betting under the Bookmakers and Betting Exchange Act 1998 (Northern Territory).

The Company has built proprietary technology platforms that combine an online racing and sports wagering offering with a fantasy wagering platform and enables sports fans to compete against each other via online tournaments.

     


Contact

Charly Duffy
Company Secretary
E: companysecretary@topbetta.com
T: +61-409-083-780

Jane Morgan
Investor & Media Relations
E: investors@topbetta.com
T: +61-405-555-618



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